The continued free-fall in the price of oil sent stocks into a downward spiral today. A 3% decline in energy issues led to to losses across the board-the 4th down day of 5 this week. The Dow fell over 309 points, while the NASDAQ dipped below 5,000. Oil closed down $1.14 or just over 3% at $35.62 a barrel. There was speculation that today’s drop may cause the Fed to question whether to raise interest rates next week.
“The precipitous decline in oil may be something (the Fed) pauses on but I suspect they say it’s something that will pass.”
Here are the final numbers from Friday, 12/11/15 on Wall Street:
Dow Jones Industrial Average: 17,265.21 (-309.54/ -1.76%)
NASDAQ: 4,933.46 (-111.71/ -2.21%)
S&P 500: 2,012.37 (-39.86 / -1.94%)